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gerri: to tht point, e have the debt ceiling looming. if we were to find a solution for the debt ceiling fro whetr it makes democrats or republicans happy, we have some kind of resolution on the fiscal cliff. if we were to do the debt ceiling and take care of sequestration, do you think employers will start hiing? >> the best we could do would be to come up with a credible long-term plan. gerri: credible long-term plan on capitol hill and the white house. are you kidding? >> u.s. you're right. the problem here is, between now and the end of february is everyone goin to say, well, here is a we need to do? are they going to agree on it? the republicans, i think, have corrected said we have done something on taxes. we raised it for everybody who works to raise taxes for those nasty rich folk. now cut spending in order to get on a gravel path to reduce he deficit. >> we enacted the greast tax cut in american history. 25 million new jobs. the american economy had confidence in president reagan. in what direction was going to be. that is what
gerri: to tht point, e have the debt ceiling looming. if we were to find a solution for the debt ceiling fro whetr it makes democrats or republicans happy, we have some kind of resolution on the fiscal cliff. if we were to do the debt ceiling and take care of sequestration, do you think employers will start hiing? >> the best we could do would be to come up with a credible long-term plan. gerri: credible long-term plan on capitol hill and the white house. are you kidding? >> u.s....
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we're going to see the debt ceiling now present itself. are we going to see an ugly repetition was a debacle in 2011 that cost investors, the market cap number, but somewhere around a tri trillion dollars, we don't need any more of that. >> no, but at the end of the day there will be more fights, this is where we are as a nation. when you are 16.5 trillion in debt we'll have fights like this, i best compare it to a marriage that husband and wife go deep into debt, creditors call, and they start fighting as a couple. we see millions of couples in america break up because they are in too much debt, they fight about it the house and senate look a lot like america in the fighting we have about we understand we have too much debt, we understand we have too much spending but battle is where do you cutback. no single vote will fix this. lou: but if there is any more of the irresponsible nonsense over a debt ceiling, independence and democrats and many conservatives will be disenchanted with the republican party. i think you have to began kid and
we're going to see the debt ceiling now present itself. are we going to see an ugly repetition was a debacle in 2011 that cost investors, the market cap number, but somewhere around a tri trillion dollars, we don't need any more of that. >> no, but at the end of the day there will be more fights, this is where we are as a nation. when you are 16.5 trillion in debt we'll have fights like this, i best compare it to a marriage that husband and wife go deep into debt, creditors call, and they...
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two more problems coming up, the debt ceiling. and just this week people are getting paychecks for the first time that include that 2 percent increase in apparel tax. what the people make of this? >> a lot of people will be shocked because they remember the president saying, f you make less than $250,000 i guarantee you won't pay one more dime in taxes. well, they're paying lots of times and increased tax. a person making tricky thousand dollars is pro we going to be on the cross $1,600 additional money. if you're making 50,000, you don't have $1,600 of disposable income to give the government so they can waisted and borrow more money. it's going to it people hard. add to that the obamacare tax and then what states and local governments to doing. the economy will be in a world of hurt this year. gerri: and we can have a big tax resolution. the point that people really start seeing the impact of this, they may go with their feet and make calls to congress. who knows what's going to happen >> i do think that there is going to be a r
two more problems coming up, the debt ceiling. and just this week people are getting paychecks for the first time that include that 2 percent increase in apparel tax. what the people make of this? >> a lot of people will be shocked because they remember the president saying, f you make less than $250,000 i guarantee you won't pay one more dime in taxes. well, they're paying lots of times and increased tax. a person making tricky thousand dollars is pro we going to be on the cross $1,600...
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hitting debt ceiling doesn't do it. >> we have go different issues. one is the debt ceiling. the second is the sequester. doug is right, debt ceiling expiring doesn't automatically cut spending but the sequester does. cuts across the board manner, social security, medicare and medicaid are exempted. deep cuts into the military and discretionary spending will go into effect. those things will happen simultaneously and force people back into the bargaining table to come up with at least a temporary patch. melissa: solving the problem in the long run is the real problem we have. governor, how do we deal with that? this is fundamental disagreement between two groups of people one side believes the government should get larger and have a bigger role and needs more revenue to do that the other side thinks we need to shrink government. those are so diametrically opposed points of view. i don't know how even though we're at this crisis point how do you resolve that fundamentally different point of view? >> well, look that different point of view has been going on since, you know, ham
hitting debt ceiling doesn't do it. >> we have go different issues. one is the debt ceiling. the second is the sequester. doug is right, debt ceiling expiring doesn't automatically cut spending but the sequester does. cuts across the board manner, social security, medicare and medicaid are exempted. deep cuts into the military and discretionary spending will go into effect. those things will happen simultaneously and force people back into the bargaining table to come up with at least a...
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with the debt ceiling if you don't have authority, what do you do? you stop paying bills if you're the federal government. you stop sending checks to your suppliers-- >> that hurts the one who made that possible. >> well, in the short run you -- the hospitals don't get reimbursed for their medicare expenses. >> neil: that's the vice that democrats have republicans in, they're afraid of their own shadow. what's to spell democrats for serious spending cuts if they think that republicans are afraid of even a hint-- >> i think what helps, every expert in washington agrees that the long-term entitlement. >> neil: no doubt. >> changed. >> neil: a lot of american people seem to -- they're far happier with raising taxes on the rich. but what the president says, aim he not going to change social security in the context of improving the budget. i will do it to strengthen social security so the rhetoric will move in that direction. >> neil: but that means it has to be truthful. >> well, basically, the kind of things that the republicans talked about a little bi
with the debt ceiling if you don't have authority, what do you do? you stop paying bills if you're the federal government. you stop sending checks to your suppliers-- >> that hurts the one who made that possible. >> well, in the short run you -- the hospitals don't get reimbursed for their medicare expenses. >> neil: that's the vice that democrats have republicans in, they're afraid of their own shadow. what's to spell democrats for serious spending cuts if they think that...
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deal with the debt ceiling? >> the fiscal cliff did not fix the debt. is this tax policy or fixing in debt and deficit? and but i was a big supporter to say we got it deal with debt and deficit. >> you voted against the fiscal cliff? >> we have three saying scram together by the senate and the presidency. the debt ceiling, and the sequestration also a continuing resolution. of three moments are a good moment to do with spending but they are very different. sequestration is we will cut spending $100 billion. >> what i asked is can we trust congress to do the right thing when it comes to the debt ceiling? seventy-seven% of the people say washington d.c. is hurting the nation. folks are on to the game how likely is you can solve the debt ceiling issue and also save money? >> that will complete the depend on everybody coming to the table. we have the senate that things one thing in the house that thinks something different to. and tell there on the same page it is tough. the senate has not passed a budget in four years? it makes it difficult to do a budget
deal with the debt ceiling? >> the fiscal cliff did not fix the debt. is this tax policy or fixing in debt and deficit? and but i was a big supporter to say we got it deal with debt and deficit. >> you voted against the fiscal cliff? >> we have three saying scram together by the senate and the presidency. the debt ceiling, and the sequestration also a continuing resolution. of three moments are a good moment to do with spending but they are very different. sequestration is we...
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might be crashing through the debt ceiling soon and that we thought. for more honest and republican congressman james langford of obama. welcome back to the show. always good to see you. >> thank you. glad to be with you. gerri: the cbo is saying that we are on track to rack up our fifth year of a trillion dollar plus debt, and already deficits and this year alone the fiscal year alone, $2,903,000,000,000 in deficits just in this first quarter. tell me, can the american people trust congress to fix this problem with a -- fix the fiscal cliff and deal with the debt ceiling? >> the fiscal clefted not fix the debt, and that was the big debate during the fiscal of conversation. is this affecting tax policy or is this about trying to pixar debt and deficit. there was a group that said let's fix the tax policy in deal with the deficit later. as supporters sang, we must deal with the debt and deficit which is the bigger issue. gerri: you voted against it. >> i did. gerri: what can we do about this? what can we do about this? >> well, we have three things. peo
might be crashing through the debt ceiling soon and that we thought. for more honest and republican congressman james langford of obama. welcome back to the show. always good to see you. >> thank you. glad to be with you. gerri: the cbo is saying that we are on track to rack up our fifth year of a trillion dollar plus debt, and already deficits and this year alone the fiscal year alone, $2,903,000,000,000 in deficits just in this first quarter. tell me, can the american people trust...
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all i can think about ithe debt ceiling debate and we saw 2000 points stripped off without. what you think? >> well, it could be a real problem. the last big one we had was 1995, 1996, that was certainly a disaster for me publican sampling. it is not the right way to do things. it's a stupid way of trying to manage the buget. >> i couldn't agree with you more. the fact is this house of representatives is the last vestige of republicanism as when it comes to power in washington right now. i think their expectations are significantly well beyond the reality is what they can accompli, or am i wrong? >> the house of representatives has originate all spending cuts. lou: another 4 trillion over the course of the next 10 years. 22 trillion at the end of obama's time in office, we are going to be looking at $26,000 in debt. thank you, mr. obama. >> the basic point is that the american people know that we have to have cutbacks in entitlement programs. lou: let's set aside the european tax rates. [talking over each other] lou: let me ask you this. if you don't think that the republica
all i can think about ithe debt ceiling debate and we saw 2000 points stripped off without. what you think? >> well, it could be a real problem. the last big one we had was 1995, 1996, that was certainly a disaster for me publican sampling. it is not the right way to do things. it's a stupid way of trying to manage the buget. >> i couldn't agree with you more. the fact is this house of representatives is the last vestige of republicanism as when it comes to power in washington right...
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let's move on to a our debt and our nation's crisis with the debt ceiling. we default on february 15th. happy valentine's day. doug come -- doug, do you think we will avoid this or have big problems? >> at think the answer is simple. we don't have a fight or a crisis over the debt ceiling. we have a fight in crisis overspending that causes debt. if the spending or cut and there was an agreement but place on the way to rein in explosive and -- entitlement spending and brought the debt under control, no one would even mention the debt ceiling. the key will be to focus on the real problem, which is the debt. acknowledge solution for anyone not living in budgetary fantasyland. make some progress on that. gerri: at think it's budget fantasyland for us. well, the senate has not backed the budget in 1,351 days, gretchen. come on. we are going to -- our debt is going to get downgraded by standard and poor's and moody's and everyone else, and we will have a sell-off of 2,000 points in the stock market, right? >> you're right. on top of not having a budget, we have al
let's move on to a our debt and our nation's crisis with the debt ceiling. we default on february 15th. happy valentine's day. doug come -- doug, do you think we will avoid this or have big problems? >> at think the answer is simple. we don't have a fight or a crisis over the debt ceiling. we have a fight in crisis overspending that causes debt. if the spending or cut and there was an agreement but place on the way to rein in explosive and -- entitlement spending and brought the debt...
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cheryl: what about worried about the debt ceiling debate? we are about to go through another round of arguing in washington. what do you think they should do to stimulate and build jobs in this country which we still don't have on a meaningful level? >> just get it done is what they should do. it is not just the debt ceiling. it is the point of live ridge. the issue is how much are we going to cut from federal government spending to get the budget deficit in line with what it needs to be on long-term basis and they are already squabbling over that. the other king is talking about discretionary spending and entitlement represent 60% of overall outlays. we really cannot get to the promised land unless we also addressed the entitlement situation which of course is politically unpopular because politicians, threaten their job security. cheryl: what do you say? should we address retirements? >> fiscal cliff 2.0, some people like talking about it today. we have to be careful. we can't take a stir approach and have across-the-board cuts. we have to
cheryl: what about worried about the debt ceiling debate? we are about to go through another round of arguing in washington. what do you think they should do to stimulate and build jobs in this country which we still don't have on a meaningful level? >> just get it done is what they should do. it is not just the debt ceiling. it is the point of live ridge. the issue is how much are we going to cut from federal government spending to get the budget deficit in line with what it needs to be...
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ceiling, but actually the debt. driven by spending, and we see no need i controlling spending anywhere. lou: your organization, the american action forum putting of clear statements about what the likelihood would be of the fiscal clef there's no mystery here. only to use his phrase, only an idiot would be unaware of the import of actually doing something meaningful, sensitive, and lasting when it comes to deficits and debt. >> i could not agree more. you would have to live in a budgetary fantasyland not to understand -- lou: there is the explanation. >> that could be it. in fantasyland having a trillion dollars in additional spending commitments every year as a result of the explosion of the entitlement programs of the next decade. it does not matter, but in the real world it means that we can no longer finance the regular operations of government. we are late and my and -- interest obligations and had to to the next generation an economy that is impaired and the huge bill. there is absolutely no justification for
ceiling, but actually the debt. driven by spending, and we see no need i controlling spending anywhere. lou: your organization, the american action forum putting of clear statements about what the likelihood would be of the fiscal clef there's no mystery here. only to use his phrase, only an idiot would be unaware of the import of actually doing something meaningful, sensitive, and lasting when it comes to deficits and debt. >> i could not agree more. you would have to live in a budgetary...
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the constitution allows him to raise the debt ceiling on his own, again, congress be damned. add it up, i'm telling you, barack obama is doubling down. and here's the kicker. with plenty of compliant democrats in congress to help. but those democrats might regret what they're aiding and abetting, because they're the ones who'll be fumbling and fuming. when nancy pelosi pushes the 14th amendment to give the power to bypass congress, she is giving him the power to bypass her too. you don't need a trillion dollar magic coin to realize this is nothing less than a high stakes power grab. now, it's not unusual for presidents of either party to try. it is very unusual for so many in both parts to lay down and let him do it. all right, here to hash it out, constitutional expert ilya shapiro and sabrina schafer as well as "the wall street journal"'s steve moore. steve, a disturbing series of events, to put it mildly. >> no question about it, neil. and, look, we have a three-branch system of government in washington. the president is the chief of the executive branch, that means the pr
the constitution allows him to raise the debt ceiling on his own, again, congress be damned. add it up, i'm telling you, barack obama is doubling down. and here's the kicker. with plenty of compliant democrats in congress to help. but those democrats might regret what they're aiding and abetting, because they're the ones who'll be fumbling and fuming. when nancy pelosi pushes the 14th amendment to give the power to bypass congress, she is giving him the power to bypass her too. you don't need a...
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ceiling is absolutely vital that we do not hold the debt ceiling hostage. in fact, a top republican said you cannot hold the debt ceiling hostage. cheryl: it will happen. as you are well aware, this debate is coming on the debt ceiling, you will be very involved in that, what do you think you can do to advance the debt ceiling debate in the right direction of the country? >> any discussion about the debt ceiling must include a spending cut, serious discussion and movement and action about spending cuts and reforms that will reduce our debt. the american public is tired about us kicking the can down the road, tired of the do-nothing congress. the senate hasn't passed a budget in over four years. we learne learn for the fifth yr running we have a deficit now for the fifth year in a row of over a trillion dollars. that is unsustainable, immoral, wrong for the future of our children and as a mother of three and protector of american's future we are going to attack this crisis and make sure we get to the bottom of all of i that as we move forward. cheryl: i say
ceiling is absolutely vital that we do not hold the debt ceiling hostage. in fact, a top republican said you cannot hold the debt ceiling hostage. cheryl: it will happen. as you are well aware, this debate is coming on the debt ceiling, you will be very involved in that, what do you think you can do to advance the debt ceiling debate in the right direction of the country? >> any discussion about the debt ceiling must include a spending cut, serious discussion and movement and action about...
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listen, the debt ceiling is going up. there is no doubt about that. but the president says what we need to use a scalpel, not an axe when it comes to spending cuts. how, you say optimistic, are we going it see the kind of entitlement reform and kind of spending cuts this country really needs? are you still optimistic on that front? >> well, remember, i said i was cautiously optimistic. you know, the simple fact is we have to have these kinds of things happen and they have to happen sooner rather than later. you know, you talk a lot or we heard a lot of coverage about all of the ceo's and in corporate america who are working with the president in order to pass a balanced deal. ashley: right. >> well, there was no balance to the deal. many of them were out front, out in front not just of raising taxes and that's exactly what they got, all their taxes went up. they were also out in front about really working hard to bring together coalescing around entitlement reforms. ashley: right. >> that absolutely must happen. we have a number of broadly-supported b
listen, the debt ceiling is going up. there is no doubt about that. but the president says what we need to use a scalpel, not an axe when it comes to spending cuts. how, you say optimistic, are we going it see the kind of entitlement reform and kind of spending cuts this country really needs? are you still optimistic on that front? >> well, remember, i said i was cautiously optimistic. you know, the simple fact is we have to have these kinds of things happen and they have to happen sooner...
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. >> they need to raise the debt ceiling, but if we don't raise it without a plan to get out of debt, while the should be fired. >> even to get rid of some of the special interest tax rates,. >> if you are a republican trying to get good media coverage, you're playing the wrong bit game. that is the only time that you have leverage. if you don't raise the debt ceiling right away, it's not defaulting on their loans. the treasury secretary can cut other spending. it is basically a government shutdown. republicans have lost that in the past. but i think unless there is something that the president has to lose, you don't have any leverage in the spending cuts. gerri: you know, the far left and far right will think that that -- well, the different analyses of what happened. they think will lives lost in the last debate what do you make of that? the republicans were in a much weaker bargaining position. what speaker boehner was doing anything that taxes went up at midnight on december 31. he actually got a tax cut compared where would've been. everybody else was going to get higher income t
. >> they need to raise the debt ceiling, but if we don't raise it without a plan to get out of debt, while the should be fired. >> even to get rid of some of the special interest tax rates,. >> if you are a republican trying to get good media coverage, you're playing the wrong bit game. that is the only time that you have leverage. if you don't raise the debt ceiling right away, it's not defaulting on their loans. the treasury secretary can cut other spending. it is basically...
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congress has the responsibility and the sole authority to raise the debt ceiling. congress must do its job. lou: the administration does appear willing to go around congress to enact at least some gun-control measures. we will be debating tonight the administration's efforts to broaden and control in this country, talking with former birdie campaign president richard a. bourne in constitutional law professor david. vice-president joe biden today met with victims and gun-control advocates and stress the administration's determination to take action on gun-control, even by its executive order. it is the first of a series of meetings that the president's second amendment point man. fox news chief political correspondent carl cameron with our report. >> vice-president opening his first task force meeting on gun violence with victim's aunt and safety groups and somberly recalled the shooting rampage that killed 27, including 20 children at a new town connecticut elementary school last month. >> touch the heart of the american people. seeing those young children riddled
congress has the responsibility and the sole authority to raise the debt ceiling. congress must do its job. lou: the administration does appear willing to go around congress to enact at least some gun-control measures. we will be debating tonight the administration's efforts to broaden and control in this country, talking with former birdie campaign president richard a. bourne in constitutional law professor david. vice-president joe biden today met with victims and gun-control advocates and...
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cuts otherwise they don't want to raise the debt ceiling. those two are really tied together, why would you not agree to that? >> right now is not the time to cut spending dramatically. we are faced with a struggling economy, a struggling recovery and every bit of government spending you can't comes out of the economy. if we hit the debt ceiling february 15th, the same bipartisan policy center report said we would basically take one month time, $165 billion out of the economy. that is 10% of gdp in one month. that would send the economy back into recession, unemployment would skyrocket again, we would be far worse off. we need a balanced approach to deficit reduction. we started on that track and need to continue. ashley: congressman ron, responded you can. >> my good friend is totally wrong. it is not government spending that will stimulate the economy. we need to leave those dollars in the hands of job producers and family businesses, the hands of consumers instead of sending it to the federal government in washington d.c.. we have to cut
cuts otherwise they don't want to raise the debt ceiling. those two are really tied together, why would you not agree to that? >> right now is not the time to cut spending dramatically. we are faced with a struggling economy, a struggling recovery and every bit of government spending you can't comes out of the economy. if we hit the debt ceiling february 15th, the same bipartisan policy center report said we would basically take one month time, $165 billion out of the economy. that is 10%...
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he will be looking for more revenue to address the debt ceiling. can he effectively as a guest to his boss while managing the expectations of republicans? >> that is one of the fundamental problems here. i am not saying it is unimportant, but it is of secondary importance of who is president. he is not an independent actor. he put a deal for that was laughable. i think geithner was never given the room to negotiate beyond that. to me, the question is, if jack lew had the authority to negotiate issues, that is a second thing. if the president sent them off with no ability to negotiate and the president starts with we do not have a spending problem and it is all revenue, then jack lew is doomed from the very beginning. cheryl: we will be watching every step of it. thank you very much. we will hear from the president a little less than 90 minutes from now. dennis: all right. forget the u.s. look overseas. how is it time to buy international stock. robert, i thought china was slowing down, europe is falling apart and now you are telling me to invest th
he will be looking for more revenue to address the debt ceiling. can he effectively as a guest to his boss while managing the expectations of republicans? >> that is one of the fundamental problems here. i am not saying it is unimportant, but it is of secondary importance of who is president. he is not an independent actor. he put a deal for that was laughable. i think geithner was never given the room to negotiate beyond that. to me, the question is, if jack lew had the authority to...
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tracy: coming up, five weeks until we get the debt ceiling. when will washington get serious about fixing the problem? ashley: mcdonald's once again trying. live in chicago with a preview. first, take a look at some of the winners and losers but the dow up 54 points. ♪ ♪ [ male announcer ] this is karen anjeremiah. they don't know it yet, but they' gonna fall in love, get married, have a couple of kids, [ children laughing ] move to the country, and live a long, happy life together where they almost never fight about money. [ dog barks ] because right after they get married, they'll find some retirement people who are paid on salary, not commission. they'll get straightforward guidance and be able to focus on other things, like each other, which isn't rocket science. it's just common sense. from td ameritrade. but i'm also on a lot of medications that dry my mouth out. i just drank tons of water all the time. it was never enough. i wasn't sure i was going to be able to continue singing. i saw my dentist and he suggested biotene. it feels r
tracy: coming up, five weeks until we get the debt ceiling. when will washington get serious about fixing the problem? ashley: mcdonald's once again trying. live in chicago with a preview. first, take a look at some of the winners and losers but the dow up 54 points. ♪ ♪ [ male announcer ] this is karen anjeremiah. they don't know it yet, but they' gonna fall in love, get married, have a couple of kids, [ children laughing ] move to the country, and live a long, happy life together where...
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gerri: you bring a degree point because the first time we had the debt ceiling issue, which is the one now looming in congress, we saved 2,000 points of the stock market. it did not last, thankfully, but it was scary. it may allow the people uneasy. we will -- will leave be in for the same type of problem if we get right up to that deadline and no agreement? >> yes. yes. and that is why we are all annoyed and hopeful that congress will learn a lesson and not do a test again because all they're doing getting in our way causing a lot of banks and warrior necessarily for the american public and investors or a wide. gerri: a broader question. you're a smart guy and you watch all this stuff. one of the things the we're waiting for, listening tour, s&p, moody's, downgrade are dead again, what will happen? we will be the ramifications? how will that hit individual investor portfolios? >> there is a risk that traditionally when they're is a downgrade of a bond rating the value of the bond goes down as well, which means if you own u.s. government securities you're going to suffer a loss of valu
gerri: you bring a degree point because the first time we had the debt ceiling issue, which is the one now looming in congress, we saved 2,000 points of the stock market. it did not last, thankfully, but it was scary. it may allow the people uneasy. we will -- will leave be in for the same type of problem if we get right up to that deadline and no agreement? >> yes. yes. and that is why we are all annoyed and hopeful that congress will learn a lesson and not do a test again because all...
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democrats say are not done raising revenue they're demanding higher taxes with the debt ceiling. but the president says he will then negotiate so he will have to raise taxes unilaterally. he does a lot of that. who thought we would see president taking credit for making the bush tax cuts permanent? he is bragging now they're permanent. 98 percent of americans anyway. i love politics. >> america is tattoo obsession body art covering bodies and faces of celebrities and use. our psychologists will describe the east epidemic. >> a deadly outbreak of the flu declarers the state of emergency. the worst droid dna augmentation initiated. vision expanding to a 5-inch 1080p hd display and camera. touch acquiring nfc. hearing evolving with beats audio. wireless charging activated. introducing droid dna by htc. it's not an upgrade to your phone. it's an upgrade to yourself. aah! learning how to kick flip 6 stairs takes determination. so will getting into college. i've got what it takes. so do you. a. lou: joining me now is the "a team" monica crowley, a great to have you with us. juan willia
democrats say are not done raising revenue they're demanding higher taxes with the debt ceiling. but the president says he will then negotiate so he will have to raise taxes unilaterally. he does a lot of that. who thought we would see president taking credit for making the bush tax cuts permanent? he is bragging now they're permanent. 98 percent of americans anyway. i love politics. >> america is tattoo obsession body art covering bodies and faces of celebrities and use. our...
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as washington moves closer to the debt ceiling deadline our next guest says the debt limit must be raised to avert what he calls how is that affecting businesses? a former member of the coins of economic advisors under president bush. matthew, thank you for joining us. simplely put, there is no option in your opinion we have to raise the debt ceiling. what happens if we don't? >> that is great question to which honestly no one knows the answer and i hope we don't find out the answer. it is not like the united states government is a small business that gets three bills a day and if cash flow is a little short one day they can just pay two ever the bills. millions of payments get made by the federal government every day and we just don't know, especially given the fragility of the economy and capital markets what will happen one day, one week, one month goes by where the u.s. government is defaulting on different obligations. ashley: countries defaulted before the, lost their aaa rating and managed to turn it around and recover abe able to borrow money from the markets. is this a wake-up ca
as washington moves closer to the debt ceiling deadline our next guest says the debt limit must be raised to avert what he calls how is that affecting businesses? a former member of the coins of economic advisors under president bush. matthew, thank you for joining us. simplely put, there is no option in your opinion we have to raise the debt ceiling. what happens if we don't? >> that is great question to which honestly no one knows the answer and i hope we don't find out the answer. it...
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Jan 11, 2013
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democrats say are not done raising revenue they're demanding higher taxes with the debt ceiling. but the president says he will then negotiate so he will have to raise taxes unilaterally. he does a lot of that. who thought we would see president taking credit for making the bush tax cuts permanent? he is bragging now they're permanent. 98 percent of americans anyway. i love politics. >> america is tattoo obsession body art covering bodies and faces of celebrities and use. our psychologists will describe the east epidemic. >> a deadly outbreak of the flu declarers the state of emergency. the worst outbreak in years. the nra goes to the white house for a meeting and comes out swinging. the "a team." next. [ male announcer ] where do you turn for legal matters? alegalzoom, we've created a better place to handle your legal needs. maybe you have questions about incorporating a business you'd like to start. or questions about protecting your family with a will or living trust. and you'd like to find the right attorney to help guide you along, answer any questions and offer advice. with
democrats say are not done raising revenue they're demanding higher taxes with the debt ceiling. but the president says he will then negotiate so he will have to raise taxes unilaterally. he does a lot of that. who thought we would see president taking credit for making the bush tax cuts permanent? he is bragging now they're permanent. 98 percent of americans anyway. i love politics. >> america is tattoo obsession body art covering bodies and faces of celebrities and use. our...
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ceiling which is of the month, the halfway cut their is a chance the yields will go higher throughout the course of the year, but i would not throw in the towel or bet all my eggs. i still think that there is a chance that as long as inflation remains low in the economy remained steady but not running away from us there is a chance that buying yields will at least remain in the same range of where they are now. liz: well, we like to have smart guys like you want because you can tell us what to anticipate. half of the battle is anticipating in being ready. to you have two major concerns, two things that could possibly happen that could derail the picture entirely? >> again, treasuries are going to be aafunction of inflation and economic growth. all of noise around what's going on in congress, and certainly what the fed will do. the fed pulls completely out between now and the end of the year, that would be a major factor. at least -- but they have also said that unless unemployment is below six and a half%. let's say we have -- that's one thing. economic growth and as long as we're in
ceiling which is of the month, the halfway cut their is a chance the yields will go higher throughout the course of the year, but i would not throw in the towel or bet all my eggs. i still think that there is a chance that as long as inflation remains low in the economy remained steady but not running away from us there is a chance that buying yields will at least remain in the same range of where they are now. liz: well, we like to have smart guys like you want because you can tell us what to...
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Jan 10, 2013
01/13
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for the first quarter, however, the debt ceiling debate is a big one. and while we feel, again, cautiously optimistic for the year, for this first quarter all bets might be off, and we are anticipating a high degree of volatility until we get more resolution on that issue. hover orr and, jack, i know you also are concerned, do you think we're looking at a downgrade and maybe a recession of the domestic economy. >> yeah. it's certainly a worst case scenario, i would say. but, lori, i'm not looking for it. that's really my fear. i think most likely case, you know, i have to agree, i think that we'll muddle along. we will, you know, pump out, you know, moderately positive economic growth, moderately positive be revenue growth, flatline earnings growth and a moderately positive stock market for the year. obviously, there are a lot of things that stand in the way of that, and that's, you know, intractability of congress and working in washington. and that's a huge wildcard. lori: quick follow-up. jack lew, does he change things? obviously, we know he's in fa
for the first quarter, however, the debt ceiling debate is a big one. and while we feel, again, cautiously optimistic for the year, for this first quarter all bets might be off, and we are anticipating a high degree of volatility until we get more resolution on that issue. hover orr and, jack, i know you also are concerned, do you think we're looking at a downgrade and maybe a recession of the domestic economy. >> yeah. it's certainly a worst case scenario, i would say. but, lori, i'm not...
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we hear everyone in washington, the president says he is not going to negotiate a debt ceiling. and the republican leaders in the house, the speaker says i'm not going to talk to the white house because i don't like the way it has worked up to this point. apparently what is going to transpire? how important are those discussions and what would happen if we actually did threaten the shutdown of the government. >> well, if you're going to have the threat and the shutdown of the government, where it hits hardest is the defense area. and they are already bracing for that. i tell you what i think is more important in washington, what is going on with monetary policy. and when you can have all this clowning around on fiscal policy, bernanke keeps printing money. that may be a big problem way down the road, but for the time being, the banks are flush with deposits, flush with reserves, lending more money. use of these november consumer credit numbers today, and people are going about their business. lending and borrowing in moving ahead even though the politicians aren't. lou: give us
we hear everyone in washington, the president says he is not going to negotiate a debt ceiling. and the republican leaders in the house, the speaker says i'm not going to talk to the white house because i don't like the way it has worked up to this point. apparently what is going to transpire? how important are those discussions and what would happen if we actually did threaten the shutdown of the government. >> well, if you're going to have the threat and the shutdown of the government,...
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Jan 10, 2013
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if he can't get a debt ceiling, raise the debt ceiling i think he will invoke the fourteenth amendment which says the debt must be paid, he will go around congress, invoke the fourteenth amendment and say keep on spending, keep on borrowing. >> he may very well do that but that is because the republicans refuse to define the issue. instead they are defending the issue. when the conservatives or the republicans are not defining they are losing. the republicans have a chance to take the cbo numbers and define the issue and put it back on barack obama. if they do not do that then barack obama wins the day and america loses. stuart: that is exactly what is going to happen. i am sorry we are out of time. thanks for joining us and i am sure you will be waiting eagerly for governor brown's budget to be released later today. >> thank you for that. stuart: mike reagan, thanks very much. stock early on entitlements. my take on food stamps and children is next. >> announcer: you never know when, but thieves can steal your identity and turn your life upside down. >> hi. >> hi. you know, i can save
if he can't get a debt ceiling, raise the debt ceiling i think he will invoke the fourteenth amendment which says the debt must be paid, he will go around congress, invoke the fourteenth amendment and say keep on spending, keep on borrowing. >> he may very well do that but that is because the republicans refuse to define the issue. instead they are defending the issue. when the conservatives or the republicans are not defining they are losing. the republicans have a chance to take the cbo...